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Reserve Bank governor Michele Bullock said the cash rate cut, by 0.25 percentage points as expected, came amid uncertainties for economic activity and inflation. Meanwhile the big banks will pass on the rate cut, but some will do it more quickly.

Australia’s peak shareholder lobby group wants Telstra’s mobile phone coverage claims to be independently verified, following accusations it ‘tricked Australians into paying top dollar’.

Australian listed wagering operator Tabcorp is understood to have received approaches from European gaming systems company Intralot about buying Max Gaming, estimated to be worth as much as $610m, DataRoom reports.